Please explain5 May 2020 08:47
Hello, could somebody please explain in “layman” terms why the ‘subscribers to the notes’ ( here I am presuming Atm, as they are the subscribers) get warrants on top of their 10% interest, as described in this mornings Rns
“In addition, as part of the agreement, the subscribers to the Notes will receive 10 warrants for every £1 subscribed, each warrant giving the holder the right to subscribe for one share in AfriTin. The warrants, which have been issued today, can be exercised at any time from the date of issue and will lapse after 3 years. The exercise price of the warrants is 1.95p, being 130% of the Company's closing share price on 4 May 2020.“
Basically what I’m saying is I don’t understand this paragraph, please excuse my ignorance. Thank you to/for any reply in advance.
Regards
Sharesahoy